2039 (2039) Fair Value & Analysis

Industrials · Market cap HK$38.8B

2 2039 2039 · HK

PriceHK$7.20

Fair ValueHK$2.82

Upside-60.8%

Quality54/100

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Evidence: Medium Range HK$1.27 – HK$3.90

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −20.9% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$5.94 – HK$12.27 · fair‑value band HK$1.27 – HK$3.90 · the HK$7.20 price screens above the HK$2.82 fair value. As of Jul 2, 2026.

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Analysis

2039 (2039) currently trades at HK$7.20, while our model-based Fair Value estimate is HK$2.82 — implying the stock looks roughly 60.8% overvalued today. We read business quality at 54/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).

Over the trailing twelve months, 2039 generated revenue of HK$153B at a net margin of -0.1%. Revenue declined 9.3% year over year. It earns a return on equity of 1.5%. Net debt stands at HK$21.8B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$153B

Revenue growth (YoY) -9.3%

Net margin -0.1%

Return on equity 1.5%

Free cash flow HK$13.7B FY2025

Operating margin 3.0%

More key figures

EPS (TTM) HK$-0.0344

Dividend yield 2.5%

EPS growth (YoY) -63.6%

Net debt HK$21.8B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2039 reported revenue of HK$152B in FY2025 versus HK$164B in FY2021, a compound −1.8%/yr. Reported net income was HK$215M in FY2025, compounding −57.6%/yr from FY2021.

Revenue −1.8%/yr

FY21 HK$164B

FY22 HK$142B

FY23 HK$128B

FY24 HK$178B

FY25 HK$152B

Net income −57.6%/yr

FY21 HK$6.7B

FY22 HK$4.6B

FY23 HK$421M

FY24 HK$3.0B

FY25 HK$215M

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Similar stocks

6 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
ATI Inc ATI	$204.09	$36.39	-82%
Carpenter Technology Corporation CRS	$492.62	$82.57	-83%
Mueller Industries, Inc MLI	$139.51	$120.61	-14%
Aurubis AG NDA	€182.60	€102.56	-44%
Commercial Metals Company CMC	$73.57	$28.97	-61%
China International Marine Containers (Group) Co 000039	¥8.98	¥6.57	-27%

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Frequently asked questions

Is 2039 (2039) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$2.82 versus a price of HK$7.20 — about −61% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2039?

Our model-based fair value for 2039 is HK$2.82 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$7.20.

What is the quality score of 2039?

2039 has a Quality Score of 54/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2039 (2039)?

2039 reported trailing-twelve-month revenue of about HK$153B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2039?

The net profit margin of 2039 is about -0.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

Does 2039 pay a dividend?

2039 currently shows a dividend yield of about 2.48% relative to its recent price (as of Jul 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.